Arranging qualifying credit etc.U.K.
10A.—[F1(1)] Making arrangements—
(a)for another person to enter as borrower into an agreement for the provision of qualifying credit; or
(b)for a borrower under a regulated mortgage contract [F2falling within sub-paragraph (2)] to vary the terms of that contract in such a way as to vary his obligations under that contract,
is a controlled activity.
[F3(2) A regulated mortgage contract falls within this sub-paragraph if—
(a)the contract was entered into on or after 31st October 2004; or
(b)the contract—
(i)was entered into before 31st October 2004; and
(ii)was a regulated credit agreement immediately before 21st March 2016.
(3) In this paragraph “regulated mortgage contract” has the meaning given by article 61(3) of the Regulated Activities Order.]
Textual Amendments
F1Sch. 1 para. 10A renumbered as Sch. 1 para. 10A(1) (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), arts. 1(2)(3)(c), 6(4)(a) (with Pt. 5)
F2Words in Sch. 1 para. 10A(1)(b) substituted (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), arts. 1(2)(3)(c), 6(4)(b) (with Pt. 5)
F3Sch. 1 para. 10A(2)(3) inserted (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), arts. 1(2)(3)(c), 6(4)(c) (with Pt. 5)